With the three indexes continuing to not play along, E-mini Nasdaq-100 futures (NQ) is finally starting to drag down the market after lagging so much. Will this continue all week or will we see a sharp rebound from tech? Remember, we need to take it day-by-day!
Here is our focus list for the week:
NVDA – Watching for a drop toward the 50-day moving average (MA) or for a bounce back up toward point of control (POC) in the 593 area
FB – If it continues to trade below the 21-day exponential moving average (EMA), it could take a trip back down toward the 50-day MA and 296 levels
GOOGL – If it holds the 21-day EMA, we’re watching for a bounce back up toward POC, which is currently 2337
ROKU – Watching for a bounce at gap fill back up toward a POC of around 316. If it breaks below 300 it could also visit the 200-day MA at around 290
TSLA – Breaking a D wedge and firing a 4-hour squeeze to the downside, we’re watching for a trip back down near the 200-day MA, right near the key level of 591
Stay Focused!